$100 oil isn't as painful as it used to be

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In the past, high oil prices weighed on the US economy but the shale revolution has made the US one of the largest oil producers.
Higher oil price now redistribute wealth within the US and narrows the impact on the oil trade deficit.
Compared to the past, high oil prices may have more of a neutral effect on the economy.
Watch oil trade in real-time here.
Brent is nearing $80 per barrel and some analyst see $100 not far off. That raises the question about how much of a dent high oil prices will make in the U.S. economy.
$100 oil is not as painful as it once was. There are a few reasons for that. The U.S. is now a significant oil exporter, helping to lessen the damage to its trade balance. Also, the economy uses less energy per unit of GDP than it used to, becoming slightly more efficient with each passing year. See the rest of the story at Business Insider NOW WATCH: NBA ref explains why the James Harden step-back jumper isn't traveling See Also: Russia's oil revenue is about to soar One...